This Chairman's Report below from the annual report was...

This Chairman's Report below from the annual report was interesting or at least the final sentence of the Overview was, particularly the last three words.

CHAIRMAN’S
REPORT
On behalf of the board of APA Ethane Limited, the responsible entity of the Ethane Pipeline Income Fund (Fund), I am pleased to report on the Fund’s performance for the year to 30 June 2014.

OVERVIEW
The Fund’s only significant source of revenue is from transporting ethane through the pipeline pursuant to the PTA, which continues until 2030, but may be terminated earlier by Qenos giving at least 12 months’ notice. Under the terms of the PTA, Qenos is required to advise the Fund of forecast ethane quantities on an annual basis.
The basis of calculating revenue under the PTA changed from 1 October 2013 to a greater proportion of revenue being dependent on the volume of ethane transported on the pipeline.
The Fund is not a party to Qenos’ ethane supply arrangements, the terms and conditions of which are confidential and negotiated between Qenos and the Cooper Basin producers. The Fund is also not privy to the current ethane supply position of the Moomba Facility.
Factors that could cause a reduction in ethane transported through the pipeline, and   therefore a reduction in revenue, include constraints on the availability of ethane and lack of an agreement between the Cooper Basin producers and Qenos for further supply of ethane for transport through the pipeline.
If Qenos terminates the PTA, for which it must give at least 12 months’ notice, the Fund will consider alternate uses of the pipeline, the most likely use being natural gas storage.

FINANCIAL PERFORMANCE
The Fund’s consolidated net profit after tax for the year is $5.1 million, down $2.8 million on the prior period, primarily due to reduced revenue as a result of lower volumes of ethane transported during the year and the change in the basis of calculating revenue under the PTA from 1 October 2013 referred to above.
The Fund continues the practice of quarantining funds required for major operating and capital expenditure projects scheduled to occur within the next three to five years. These projects include the Fund’s share of mine subsidence work and magnetic flux leakage pigging on the pipeline scheduled to occur during FY2017.

OPERATIONS
Activity continues to focus on maintaining the long-term operational integrity of the pipeline. Operating and maintenance costs during the year remained consistent with the prior period. In the current year, FY2015, the Fund expects to incur non-routine costs for mine subsidence mitigation works along the pipeline.
The ethane pipeline continued to deliver ethane without any major operating, environmental or occupational health and safety incidents during the year.

DISTRIBUTIONS
Distributions for the year totalled 12.66 cents per stapled security, a yield of 11.72% based on the price as at 30 June 2014 ($1.08).
The Fund will continue paying distributions from available net cash flows, which are determined after meeting all costs of the Fund.